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The Boston Globe

Business

Salem Harbor Power Station to be sold

A New Jersey power company said Friday it has reached an agreement to buy Salem Harbor Power Station and plans to build a state-of-the-art natural gas-fired plant on a piece of the 63-acre site while potentially opening the Salem waterfront to redevelopment.

Footprint Power LLC, of Bridgewater, N.J., said it would buy the aging plant and property for an undisclosed amount from Dominion Energy Inc., the Virginia company that has owned Salem Harbor since 2005. The companies gave no timetable for closing the deal, but a Footprint spokeswoman said the firm filed for expedited approval with the Federal Energy Regulatory Commission on Friday, and hoped to have a decision by the end of July.

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